Elon Musk, the CEO of Tesla, claims to have given over $1.95 billion worth of company shares to charity last year, according to a story from Technology News UK. The contribution of 11.6 million shares was described as a genuine gift in a filing with US regulators. The filing did not name the recipient or recipients of the contribution.
Also, on Wednesday, Mr Musk stated that it would be an “excellent time” to identify a replacement for him as Twitter’s CEO by the end of the year.
The donation was made between August and December of last year, according to the paperwork submitted to the US Securities and Exchange Commission. Mr Musk has donated Tesla stock to charities prior to that. In 2021, he gave out shares worth approximately $5.74 billion, according to a regulatory filing. In addition, he announced on Twitter the same year that he intended to give $10 million to Brownsville, Texas, for “downtown revitalisation” and $20 million to Cameron County schools.
As the company should be in a secure position by the end of this year, finding a new leader is a good idea somewhere in the latter part of the year. I need to stabilise the organisation and ensure that it is in a sound financial position and that the product plan is well-defined.